Live! Global markets tumble, oil surges above $105 after Trump’s Iran warning

‘Armed forces delivered decisive victories’, says Trump

US President Donald Trump begins his address, heaps praise on the country's armed forces for a “decisive” blow to Iran in the ongoing war.

Trump says China, Japan and South Korea should be involved in opening Strait of Hormuz

US President Donald Trump Wednesday said China, Japan and South Korea should be involved in opening Strait of Hormuz.

The president has previously directed much of his anger at NATO allies for their reluctance to get involved in securing the Strait of Hormuz until the US and Israel finish prosecuting their war against Iran.

In his remarks at the private Easter lunch he hosted at the White House on Wednesday, Trump also expressed frustration with some Asian countries that are more reliant on Gulf oil than the US.

“Let South Korea, you know, we only have 45,000 soldiers in harm's way over there, right next to a nuclear force — let South Korea do it,” Trump said. “Let Japan do it. They get 90 per cent of their oil from the strait. Let China do it.” Trump also derided NATO as 'very bad allies' and 'paper tiger' during the private lunch, ahead of his address.

“NATO treated us very badly, and you have to remember it because they'll be treating us badly again if we ever need them,” Trump fumed anew about the alliance. “And hopefully, we're never going to need them. I don't think we'll need them. I don't think they can do very much.” Trump added, “NATO won't be there if we ever have the big one.” The president's scathing comments came during remarks at a private lunch on Wednesday at the White House that Trump hosted to mark the coming Easter holiday. Video of the speech was posted online by a Business Insider reporter who said he noticed the White House had uploaded video of the closed-press event and downloaded it before the White House later made it private.

US proposes 15-point ceasefire plan to Iran as trust deficit and Strait control disputes persist

The US has presented Iran with a 15-point plan aimed at bringing about a ceasefire, including a demand for the Strait of Hormuz to be reopened and for its nuclear program to be rolled back.

Iran insists its nuclear program is peaceful. And in a report last week by Iranian state TV's English-language broadcaster, an anonymous official was quoted as saying Iran had its own demands to end the fighting, including retaining sovereignty over the strait.

In the interview with Al Jazeera, Araghchi acknowledged receiving direct messages from US Middle East envoy Steve Witkoff. He insisted, however, that there were no direct negotiations and said Iran has no faith that talks with the US could yield any results, saying “the trust level is at zero.” He warned against any US attempt to launch a ground offensive, saying “we are waiting for them.” In a deal ostensibly to give diplomacy a chance, US officials have given “clear assurances” that Araghchi and Iran's Parliamentary Speaker Mohammad Bagher Qalibaf won't be targeted, according to three officials who spoke on condition of anonymity because they're not authorised to speak publicly about the matter.

President Masoud Pezeshkian posted on social media Wednesday a letter addressing US citizens, saying that before the war, his country had pursued negotiations, but that the US chose to withdraw from that path. “Exactly which of the American people's interests are truly being served by this war? Was there any objective threat from Iran to justify such behaviour?” Pezeshkian asked in the letter posted in English on his X account.

Trump’s shifting Iran war strategy fuels uncertainty as oil prices surge

Since the war began on February 28, Trump has offered shifting objectives and repeatedly has said it could be over soon while also threatening to widen the conflict. Thousands of additional US troops are currently heading to the Middle East, and speculation abounds about the purpose of their deployment.

Just days ago, Trump threatened to attack Iran's Kharg Island oil export hub. And there has also been speculation about whether the US could decide to send in military forces to secure Iran's uranium stockpile - a complex and risky operation, fraught with radiation and chemical dangers, according to experts and former government officials.

Adding to the confusion is what role Israel - which has been bombing Iran alongside the US - might play in any of these scenarios.

Trump has been under growing pressure to end the war as oil prices have skyrocketed, pushing up the cost of gasoline, food and other goods. The price of Brent crude, the international standard, is up more than 40 per cent since the start of the war, though it declined slightly on Wednesday and traded at around USD 101 a barrel.

Trump to address nation amid Iran exit signals, uncertainty over US strategy

US President Donald Trump is all set to deliver his address to the nation, a day after he indicated that American forces could withdraw from Iran within the next few weeks, suggesting a possible timeline of “two or three weeks”. Speaking at the White House on Tuesday, Trump said there was little justification for continuing the campaign, adding, “We’ll be leaving very soon,” even as questions remain over the exact timeline.

The White House has scheduled the address for 9 pm ET (6:30 am IST), where Trump is expected to lay out Washington’s next course of action on Iran. The conflict has already sent shockwaves through global markets, pushing crude oil prices past $100 per barrel, disrupting travel and supply chains, and creating a political challenge for Trump and Republicans ahead of the November midterm elections.

However, uncertainty continues to cloud the endgame, with conflicting signals from the administration and reported divergences with Israel. Key US objectives remain unmet, while Iran has continued strikes in the Gulf region. Trump’s shifting stance, particularly after launching attacks during nuclear negotiations, has also raised concerns about US credibility and consistency on the global stage.